Ann: Change of Director's Interest Notice , page-4

Hi silly post but here goes.

So Yap Chi Ming has purchased for 20c a share, probably from the underwriter of the rights issue, an entity controlled by Simon Loh. We know he has not bought them in the open market or it would have shown in the trades.

Now what has he bought for 20c? Well one new share which is half an old share. Put it another way for 20c he has bought half an old share plus half of 9c=4.5c. So effectively he has paid 40c for one old share and 9c or put it another way 31c an old share.
Interesting!

Now Mr Lohs entity the underwriter holds a lot of shares.
Let us just conceive the possibility that Mr Loh might be thinking about making another offer for the company now he has got rid of those troublesome non executives and bought in some new ones.
So if you want to buy something you want to do it cheap, in order to do this you need the share price to be low for a long period so that you can make a "generous offer". Now Simon could keep the share price low by selling some of his holding but this would have to be disclosed thus spoiling the charade. Far better for the "underwriter" to sell, this would not have to be disclosed.